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  • Fri, Dec 21 2012
  • 2:02 PM » Mortgagee Letter 2012-28
    Published Fri, Dec 21 2012 2:02 PM by HUD
    Restatement and Update of Flood Zone Requirements for Federal Housing Administration (FHA) Insured Mortgages
  • 1:36 PM » Mortgage Recovery Still Rocky
    Published Fri, Dec 21 2012 1:36 PM by CNBC
    Home prices and home buyer confidence are rising in tandem, as the housing recovery appears to be gaining steam, even into the winter months.
  • 12:20 PM » WMC Mortgage Sued by Trust Administrator in NY Court - Businessweek
    Published Fri, Dec 21 2012 12:20 PM by Business Week
    WMC Mortgage Sued by Trust Administrator in NY Court Businessweek WMC Mortgage LLC was sued by the securities administrator for a mortgage trust, which accused the subprime loan originator of breach of contract that caused more than $550 million in damages. The trust was formed as part of a $1.9 billion residential ...
    Click Here to Read the Full Article

    Source: Business Week
  • 12:18 PM » Should Democrats have helped Boehner pass Plan B?
    Published Fri, Dec 21 2012 12:18 PM by Washington Post
    President Obama and House Minority Leader Nancy Pelosi missed a great opportunity Thursday night (okay, I realize I'm late, but I'm just getting used to this 24/7 thing). They should have quietly called Speaker John Boehner and offered to provide whatever votes were necessary to pass his Plan B. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 12:10 PM » PIMCO's El-Erian: Ugh, Recession is Now More Likely
    Published Fri, Dec 21 2012 12:10 PM by CNBC
    Here is a simple way to think about the political calculus of Washington's latest twists and turns. And - unfortunately - it suggests that economic and market dislocations may be needed to get our politicians to cooperate and govern properly.
  • 12:08 PM » NMLS Release 2013.1 Targeted for March 18, 2013
    Published Fri, Dec 21 2012 12:08 PM by NMLS
    NMLS Release 2013.1 has been targeted for March 18, 2013. The major enhancements pertain to: (i) Agency Fee Invoicing; (ii) Authorized Agents; (iii) Display of Disciplinary Actions in Consumer Access; and (iv) Implementation of the Uniform State Test. For an overview of these changes, see the 2013.1 Release Portfolio .
  • 12:07 PM » Recap: Five Housing Issues to Watch in 2013
    Published Fri, Dec 21 2012 12:07 PM by WSJ
    Home prices finally hit a bottom in 2012. So will 2013 be the year of recovery or relapse? Each day this week, we offered an area of focus for 2013. Here's a recap of our earlier predictions, and the final installment:
  • 10:48 AM » Nevada Supreme Court Upholds Two Trial Court Decisions in Favor of MERS
    Published Fri, Dec 21 2012 10:48 AM by MERS
    Three-Justice Panel, Citing Prior-Court Opinion Affirms MERS' Authority as Beneficiary FOR IMMEDIATE RELEASE  CONTACT: Jason Lobo Phone: 703.652.1660 Email: jasonl@mersinc.org Reston, Virginia, December 21, 2012 - MERSCORP Holdings, Inc. today announced that two recent opinions written by Nevada Supreme Court Justice Nancy M. Saitta affirmed trial court decisions holding that Mortgage Electronic Registration Systems, Inc. (MERS) is a valid beneficiary of deeds of trust in the state.  Justices James W. Hardesty and Kristina Pickering also joined in each opinion. In Ashley v. MERS et al. , the three-justice panel relied on the Court's decision in  Edelstein v. Bank of New York Mellon to affirm judgment in favor of MERS and two other defendants.  In his wrongful foreclosure complaint to the Eighth Judicial District Court of Clark County, the borrower alleged that, due to the involvement of MERS as the beneficiary of the subject deed of trust, the trustee's foreclosure was fraudulent and should be voided.  "This court has determined that MERS is a valid beneficiary of the deed of trust..."  Justice Saitta wrote.  "MERS, in its capacity as the beneficiary of the deed of trust, was capable of assigning its own interest in the deed of trust and to appoint a substitute trustee."  In Sanchez v. OneWest Bank, FSB, et al. , the same three-justice panel affirmed the trial court dismissal in favor of the defendants.  Here, the borrowers filed a wrongful foreclosure complaint in Clark County District Court containing various allegations, including that MERS was not a proper beneficiary and therefore the defendants lacked standing to foreclose.  In affirming the dismissal, Justice Saitta and her colleagues also relied upon Edelstein in holding that any severance in the note and deed of trust did not permanently bar foreclosure.  The Court held that because...
  • 10:44 AM » OCC Reports on Mortgage Performance for Third Quarter
    Published Fri, Dec 21 2012 10:44 AM by OCC
    The overall quality of first-lien mortgages serviced by large national and federal savings banks improved from the same period a year ago but declined from the prior quarter, according to a report released today by the Office of the Comptroller of the Currency (OCC).
  • 9:48 AM » Freddie Mac chief economist on threats to housing
    Published Fri, Dec 21 2012 9:48 AM by Market Watch
    While the housing market is showing signs of life, the looming fiscal cliff remains a threat, as does global instability, the chief economist at Freddie Mac tells MarketWatch.
  • 9:46 AM » U.S. Housing And Residential Mortgage Finance 2013 Outlook: The Nascent Recovery Is Likely To Continue
    Published Fri, Dec 21 2012 9:46 AM by S&P/Case Shiller
    The U.S. housing market continues to show signs of recovery, outpacing the relatively weak U.S. economic recovery. Standard & Poor’s baseline forecast assumes that the U.S. economy will continue to grow slowly in 2013, avoiding any substantial negative economic impact from the looming fiscal cliff and growing federal deficit. The U.S. economy grew 3.1% in [...]
    Click Here to Read the Full Article

    Source: S&P/Case Shiller
  • 9:46 AM » LPS' "First Look" Mortgage Report: November Month-End Data Shows Slight Increase in Delinquencies, Decline in Foreclosures
    Published Fri, Dec 21 2012 9:46 AM by LPS
    LPS' "First Look" Mortgage Report: November Month-End Data Shows Slight Increase in Delinquencies, Decline in Foreclosures<br/>http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/20121221a.aspx
  • 8:58 AM » Freddie Mac Issues Monthly Volume Summary For November 2012
    Published Fri, Dec 21 2012 8:58 AM by Freddie Mac
    MCLEAN, Va., Dec. 21, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today issued the company's Monthly Volume Summary for November 2012. The summary, available on the company's Web site at www.Fredd...
  • 7:56 AM » US Shares Seen Sharply Down on 'Fiscal Cliff' Setback
    Published Fri, Dec 21 2012 7:56 AM by CNBC
    U.S. stock index futures pointed to a sharply lower open on Wall Street on Friday, following declines in Europe and Asia after the collapse of the Republicans' "Plan B" vote in the House of Representatives, aimed at offering a solution to the U.S. "fiscal cliff".
  • 7:53 AM » Trichet: Fed, ECB Balance Sheets Are 'Profoundly Abnormal'
    Published Fri, Dec 21 2012 7:53 AM by CNBC
    Ballooning central bank balance sheets across the U.S., Europe, the U.K. and Japan are "profoundly abnormal", according to Jean-Claude Trichet, the former president of the European Central Bank.
  • 12:54 AM » D.C. house inspires 168 bids in red-hot real estate market
    Published Fri, Dec 21 2012 12:54 AM by Washington Post
    It didn't look like a house anyone would pay $400,000 extra for. Several walls inside the gray townhouse with blue trim were streaked with water stains. The first floor was noticeably uneven. And termites had dined in front. Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 12:51 AM » Bank of America Misses Lending 'Money Machine'
    Published Fri, Dec 21 2012 12:51 AM by Bloomberg
    Bank of America Misses Lending 'Money Machine': Mortgages Bloomberg Bank of America Corp. (BAC) and Citigroup Inc. (C) are missing out on the biggest mortgage profits on record after catastrophic losses during the housing crash made them wary of offering new loans. "Loans have never been safer, they've never been more ...
  • 12:49 AM » FHA tightening enforcement of lockout policy
    Published Fri, Dec 21 2012 12:49 AM by NAFCU
    Acting Federal Housing Administration Commissioner Carol Galante has told Sen. Bob Corker, R-Tenn., that steps are being taken to strengthen the agency's financial position, including increased vigilance sought by NAFCU with respect to borrowers who have strategically defaulted on mortgages only to seek new ones.
  • 12:46 AM » Boehner's 'Plan B' Is Off the Table, Markets Await 'Plan C'
    Published Fri, Dec 21 2012 12:46 AM by CNBC
    The U.S. House of Representatives Speaker John Boehner called off a vote on Thursday to raise taxes for wealthy Americans in a proposal dubbed "Plan B," bringing the country on the brink of going over the "fiscal cliff." But analysts told CNBC they expect a "Plan C" within a few days that would help U.S. avert a fiscal crisis.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.48%
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  • 15 Yr FRM 3.52%
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  • Jumbo 30 Year Fixed 4.25%
MBS Prices:
  • 30YR FNMA 4.5 106-24 (0-01)
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  • 30YR FNMA 5.0 109-03 (0-00)
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  • 30YR FNMA 5.5 110-11 (0-01)
Recent Housing Data:
  • Mortgage Apps 4.30%
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  • Refinance Index 6.92%
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  • FHFA Home Price Index 0.67%